The Secret To Building Wealth In Baby Step 7

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 21 February 2025

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

💵 Sign up for EveryDollar today - Create a free Budget! Listen to how ordinary people built extraordinary wealth - and how you can, too. You’ll learn how millionaires live on less than they make, avoid debt, invest, and are disciplined and responsible! Next Steps: 💰Need help with your investments? Connect with a SmartVestor Pro: (SmartVestor Investing Professionals ) #PaidEndorsement 📝Get your free copy of Ramsey’s Complete Guide to Investing: (Ramsey's Complete Guide to Investing) 🏦Take a retirement assessment to find out how much you’ll need to retire: (Retire Inspired with the R:IQ Retirement Assessment) 📈See how much your investments could be worth over time with this handy calculator: (Investment Calculator) 🧑‍💻Explore free investing tools, articles and more on the Ramsey Investing Hub: (Ramsey Investing Tools and Resources) Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman 📈 EntreLeadership 💸 The Ramsey Show Highlights Learn more about your ad choices. Ramsey Solutions Privacy Policy

Transcript

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0:00.0	What's up, guys, George Camel here. You're about to listen to a clip of last year's
0:04.2	Investing Essentials virtual event. It was a two-night deep dive into investing and real estate
0:09.0	hosted by me and Dave Ramsey. And we're gearing up to do this event again, but we'll be covering
0:14.1	even more topics than before, like what's going on with the economy and what you can do about
0:18.6	it. You can watch it live on March 4th and 5th of 2025
0:21.7	and start investing with confidence. You can get your tickets today at ramsysolutions.com
0:27.0	slash events. Enjoy the clip.
0:34.3	This episode is brought to you by SmartVestor. Connect with an investing pro near you at Ramsey Solutions.com slash SmartVester.
0:42.4	So 201 is when you are debt-free.
0:47.6	A hundred percent.
0:49.7	You're investing now more than 15%.
0:52.3	You've gotten to Baby Step 7. You don't have any debt.
0:57.4	Now, baby step six is you pay off the house. So baby step seven is bill, wealth, and give.
1:01.5	So now the 15% no longer applies. We just got to put money in investments and hopefully more
1:07.9	than 15%. And you've maxed out your 401k, you maxed out your IRAs,
1:13.2	you maxed out all things that you can do to keep the government's hands off.
1:17.9	Now what are we going to do?
1:19.6	Well, let's look at some wealth building, which is why you came tonight,
1:22.9	some wealth building principles for that.
1:25.7	Number one, and this one will get you. Wealth building is not,
1:32.7	it's not required to be sophisticated. As a matter of fact, I will tell you that almost all the
1:40.0	people that we've talked to have unbelievably primitive investment plans. I know a few guys that
	...

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